18 Sep 2025 | 5 Mins Read
NSDL share price soars 61% above IPO value, despite bearish predictions
Flipitmoney
Motilal Oswal initiates coverage on NSDL with a 'Neutral' rating and ₹1,200 target (8% downside). Citing the stock's fair valuation, Motilal Oswal highlights NSDL's leadership in depository services, robust infrastructure, and long-term growth prospects despite limited pricing. NSDL's revenue per active account is ₹157, nearly three times CDSL's in FY25, and has adjacencies through subsidiaries.